Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You are given the following information: Salary to partner Mr. Ahammed - OMR 300 Capital account: Mr. Ahammed - OMR 30,000 Mr. Badsha - OMR

You are given the following information:

Salary to partner Mr. Ahammed - OMR 300

Capital account:

Mr. Ahammed - OMR 30,000

Mr. Badsha - OMR 20,000

Interest on capital - 5%

Net profit as per P/L a/c - OMR 20,000

Profit sharing ratio of partners - 3:2.

Share of profit to be credited to Mr. Ahmmed will be:

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Logistics Audit Methods Organization And Practice

Authors: Piotr Buła, Bartosz Niedzielski

1st Edition

1032461268, 978-1032461267

More Books

Students also viewed these Accounting questions